Lisa Marie Presley’s daughter, Riley Keough, has been appointed sole trustee of her mother’s estate.
By Sckylar Gibby-Brown Has been updated
The battle over Lisa Marie Presley’s fortune is over. For those of you who have been following Elvis Presley’s drama since his daughter died in January, Lisa Marie’s mother Priscilla Presley learned that her daughter was removed from the presidency, and her daughter You know that I am challenging the change in the will of Her daughter Riley Keough, who was Lisa Marie’s trustee, replaced her. Priscilla Presley has reportedly agreed to hand over control of her late daughter’s estate to her granddaughter, Riley Keough, as part of a proposed settlement filed in Los Angeles Superior Court. hollywood reporter.
Under the agreement, Riley Keough, daughter of Lisa Marie Presley and granddaughter of iconic musician Elvis Presley, will assume the role of sole trustee of the Presley legacy. Priscilla Presley to receive an undisclosed amount to withdraw a petition on behalf of her co-trustees challenging the “reliability and validity” of a 2016 amendment to her daughter’s will. become.
The late Lisa Marie Presley, who died tragically earlier this year at the age of 54, left behind a large and highly lucrative fortune, including a 15 percent stake in the company that manages Elvis Presley’s intellectual property. After Elvis’ death in 1977, the shares have been held in a trust administered by Priscilla Presley to this day.
If approved, the settlement would end a contentious legal battle over the custody of Presley’s prized estate. The complaint states that by settling the claims and avoiding litigation, the parties could save significant legal costs and create family conflicts that would be against Lisa Marie Presley’s wishes and not in the family’s best interests. claims to prevent the sight of
Riley Keough, who has stepped forward to become the new trustee of Lisa Marie Presley’s estate, has stressed that she will not seek compensation for her services. Keough ensures that his funds are protected and invested according to the needs of beneficiaries and not influenced by personal desires.
In addition, Keough is seeking a court order authorizing him to act as the sole trustee of Lisa Marie Presley’s estate to avoid potential future disputes. Keough uses the document when communicating with third parties such as life insurance companies to eliminate unnecessary delays in receivership decisions.
The settlement agreement also includes a clause allowing Priscilla Presley, who divorced Elvis Presley in 1973, to be buried in Graceland’s meditation garden, now owned by Riley Keough. She will also be given the right to designate the names of individuals who will participate in planning the memorial service in her will.
Priscilla Presley has been a major part of Lisa Marie Presley’s life until she appointed her daughter Riley Keough and her late son Benjamin Keough as trustees in 2016, replacing her mother in 2020. was joint trustee of Berry Segal in part. Priscilla’s challenge to her daughter’s will focused on her alleged failure to file the required amendments to the terms of the trust before Lisa Marie’s death. She also pointed out discrepancies such as misspellings and mismatched signatures.
The settlement would see Priscilla Presley relinquish her position as trustee and leave the administration of Lisa Marie Presley’s estate to her daughter. With Riley Keough replacing her, her family hopes to end legal turmoil and honor the legacy of their loved ones with unity and respect.